Datatel Sets Rate on $1.195 Billion of Acquisition Loans
Datatel Inc., the software company owned by Hellman & Friedman LLC, set the interest rate on $1.195 billion of loans it’s seeking to finance its acquisition of SunGard Higher Education, according to a person with knowledge of the transaction. A $1.07 billion term loan B due in 2018, will pay 5 percentage points more than the London interbank offered rate, said the person, who declined to be identified because the terms are private. Libor, a rate banks charge to lend to each other, will have a 1.25 percent floor.
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